Bangladesh: Rebar Offers from Medium Mills Inch Up

Rebar offers by mid sized mills in Bangladesh have slightly moved up as decent deals being settled amid better response through the dealers/traders in domestic market, as per SteelMint's weekly assessment.

As per assessment, currently the local Rebar prices in Dhaka, Bangladesh through the mid size mills are hovering at BDT 58,500-59,500/MT (USD 691-703) as against last week at BDT 58,000-59,000/MT (USD 685-691) for 500W. The prices are ex-works, including local taxes & size 8-32 mm.

It's been learned from market participants that local Rebar prices likely to increase further as per current scenario where trade movement is better and producers don't have much stock in overall regions.

However the large producers stated firm Rebar offers at BDT 63,000-65,000/MT (USD 750-774) against last week offers, ex-works, including local taxes & size 8-32 mm.

-- Rani Re-rolling Mills Ltd. offering Rebar (Rani TMT) at BDT 63,000/MT, Ex-Work.

-- Anwar Ispat Ltd. offering Rebar (Anwars TMT) at BDT 63,000/MT, Ex-Work.

As per sources, few medium range hot charging plants are scaling up their production capacities and on the basis of scrap quality, the local billet prices are vary.

Recent price assessment of Bangladeshi Billet being shows minor price gap which is differ from plant to plant and registered around BDT 50,000-51,000/MT (USD 595-607) ex-works.

Sponge iron import offers in Bangladesh: Indian sponge iron export offers to Bangladesh hovering at USD 330/MT, CFR Chittagong. The prices fall by about USD 10-15/MT in last 10 days and as per sources the producers have booked small parcels at these prices.